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before taxes go up for all americans and federal programs see major cuts. president obama met with republican and democratic leaders yesterday in a high stakes meeting at the white house. senate leaders will debate a new plan over the weekend, hoping to have a deal to vote on by monday. then it will go to the house. the president said a deal is critical for the nation. >> economists, business leaders all think we are poised to grow in 2013 as long as politics in washington don't get in the way of america's progress. so we've got to get this done. >> in the event congress does not make a deal, here's how the fiscal cliff could affect you. first, income taxes will go up substantially. a middle class family will pay about $2,000 more per year. gas prices will likely fall because individuals will have to spend less on fuel. you could see longer lines at the airport because budget cuts would force the tsa to cut its staff and retail prices may fall because declining consumer confidence would push retailers to offer discounts to get shoppers into their stores. >> the bowl game is al
capitol hill today, hoping to avoid the fiscal cliff, combination of spending cuts and tax hikes with will go into effect unless lawmakers can broker a deal before the end of the year. will meet with congressional white house. it may be too late for a deal. there are just four days left before the fiscal cliff deadline. jive to be very honest mr. president, -- >> i have to be very honest mr. president, i don't know time-wise how it can happen now. >> reporter: senate majority leader harry reid]vtkÑ lashed ot at speaker boehner accusing him of running a tar forship. >> john boehner seems to -- >> reporter: republican leaders blame democrats for the standoff and say there are limits to a compromise. >> republicans aren't about to write a blank cheque or anything senate democrats put forward just because we find ourselves at the edge of the cliff. that wouldn't be fair to the american people. >> reporter: president obama flew home early from his hawaii vacation yesterday. speaker boehner call the house back into town for an unusual sunday session. members of congress understand the
in the capitol and would echo through the house. >> the president's laws of raising tax rates would still leave -- >> the republican leader took a rhetorical holiday swipe at democrats. >> i'm stuck here in washington trying to prevent by fellow kentuckians from having to shell out more money to uncle sam next year. >> we are learning more about how the negotiations fell apart. unnamed source said when the speaker offered $800 billion in revenue by limit being deductions, the speaker asked what to i get? the president reportedly responded you get nothing. i get that for free. unable to agree on a big deal on taxes and entitlements, the president is now hoping to get a small deal. extend middle class tax rates, extend some unemployment benefits and agree to a framework for a big deal. >> that's an achievable goal. that can get done in ten days. >> can it? consider speaker boehner's other words which are really echoing about making a deal. >> how we get there, god only knows. >> the president wasted no time getting into vacation mode. he played golf on saturday. white house officials tell me that
lower and the backdrop is what is happening or not in washington. get this, new tax established by affordable care act on medical devices from syringes to pacemakers may cause manufacturers to dodge requirements they register with the fda some companies could find ways to avoid listing devices that would be subject to fda approval to avoid the tax. experts say the fda may have to rely on complains from third parties to find out about -- companies that evading the requirements. ellen brightman, new york stock exchange. >>> everybody is hoping the rain holds off, it holds off today, better part of tomorrow, keep our fingers crossed. you can see some of the fog moving about this morning thickest north bay valleys, tiburon, belvedere over to about oakland this morning. clouds gone so is the rain, dry now rotating you can see it up there scan being the skies looking for that next storm from the west tomorrow afternoon. let's talk about right now. temperatures running mainly in the 40s and 50s out there. heads-up on guerneville and napa river, russian river guerneville and napa river
and republicansqló hae four days to reach a+%sxç deal before mandatory budget cuts and tax increases kick in on >>> netflix wants to get into the social networking game. >> new ceo of yahoo plans to make appearance at upcoming electronics show in las vegas. >>> goodÚç morning ellen. >>> good morning. the big consumer electronics of -- marissa mayer, a lot of hope she is expected to be there. she is an ing partiesanaÑ, one-on-one meetings trying -- trying to reestablish the sometimes rocky relationship that yahoo has had with 17 minutes into the trading session little change, we are seeing gains, for the dow, for the nasdaq as well as s&p. bloomberg index has been in the negative since we opened, a lot of wait and see about what is going to happen now that the president and congress are returning to washington today to deal with fukushima daiichi -- to deal with the fiscal omq= cliff issu. retailers are doing a better job of controlling inventories, macy's and abercrombie & fitch don't have as much merchandise leftover they need to clear out.÷s+0t netflix trying if get more social, it
a difference. >> she wants the president how higher taxes would impact her family. >> my mom, she has to pay a lot of money, they have to get a lot me and my siblings. >> the first graders are writing their own letters with a few simple requests for the president. give us puppies and as president you should wear jeans. >> the letters will be mailed out before the holidays and while students know the president is pretty busy, they do expect him to respond. >> please take time to write back. i think you'll have a big impact on our country. >> reporter: sealed, signed and soon to be delivered. lyanne melendez, "abc 7 news". >> ama: we're dealing with a marriage storm in this morning. wind as severe as the rain and maybe more so. >> thunderstorms and gusty winds. rain is through santa rosa but heavy rain a across the bay. we're not out of it yet. another hour or two and we will have our break. that is on tap for this morning and the afternoon hours and more on the way tomorrow. >> big move for the exploratorium. it's packing up as it prepares for the future. >> katie: welcome back. it's 6:46. yo
Search Results 0 to 5 of about 6